WASHINGTON (dpa-AFX) - Cryptocurrencies rallied in the past 24 hours amidst the prospect of a greater regulatory clarity in the U.S. The signing of a detailed MOU between the SEC and CFTC to coordinate how they oversee crypto and other markets has boosted sentiment in the crypto industry. Amidst expectation that the move could end the fragmented U.S. regulatory landscape, overall cryptocurrency market capitalization has rallied more than a percent in the past 24 hours.
To achieve the goals of closer harmonization in areas of common regulatory interest, the SEC and CFTC have agreed to clarify, coordinate, and harmonize policies and practices wherever feasible and relevant. This assumes significance as the mission of the SEC is to protect investors and oversee the securities markets whereas CFTC is tasked with oversight over the U.S. derivatives markets.
The MOU places on record that in an increasingly convergent financial ecosystem, the SEC and CFTC share significant areas of common regulatory interest, including oversight of trading venues, clearinghouses, data repositories, pooled investment vehicles, dealers and other intermediaries, and products that span securities and derivatives frameworks.
The collaboration aims to provide regulatory clarity and certainty built on technology-neutral regulations, frameworks that account for emerging technologies, transparent decision-making, and well-defined regulatory boundaries. The two regulators have also agreed to share information and data concerning issues of common regulatory interest to fulfil their respective regulatory mandates. They also intend to closely coordinate and cooperate to remove obstacles where appropriate, to the lawful introduction of novel derivative products, crypto asset products, or other products to market participants, customers, and investors as well as to enhance the functioning of the underlying markets.
The rally in cryptocurrencies comes despite the rebound in crude oil prices amidst the Middle East war that has stoked fears of a larger inflation combat looming for global central banks.
Brent Oil Futures for May settlement is currently trading at $96.45, implying overnight gains of 4.6 percent, weekly addition of 12.7 percent and a monthly surge of more than 42 percent. Crude Oil WTI for April settlement is currently training at $91.06 portending overnight gains of 4.1 percent, weekly addition of 12.3 percent and a monthly jump of almost 45 percent. The fuel-led inflationary pressure is feared to diminish the likelihood of monetary easing by major central banks.
The renewed worries about inflation have pushed up bond yields and lifted the dollar. Equity market sentiment remains weak while precious metals are trading above the flatline.
Earlier, consumer price inflation data released on Wednesday from the U.S. matched market expectations. All eyes are now on the PCE-based inflation readings due from the U.S. on Friday morning.
The CMC Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the prevailing sentiment in the cryptocurrency market meanwhile has edged up higher in the 'fear' territory to 27 from 26 a day earlier and 25 a week earlier.
Amidst the developments, overall crypto market capitalization has increased 1.1 percent in the past 24 hours to $2.4 trillion. The 24-hour trading volume however decreased more than 4 percent to $99 billion.
Bitcoin (BTC), the largest cryptocurrency is trading 1.2 percent higher at $70,400.53. The current price is around 44 percent below the all-time high of $126,198.07 recorded on October 7, 2025. The original cryptocurrency has lost 4.2 percent in the past week and 21 percent till date in 2026. The 24-hour trading ranged between $71.337.66 and $68,998.87.
Bitcoin Spot ETF products in the U.S. witnessed net inflows declining to $115 million on Wednesday from $247 million on Tuesday. Market leader iShares Bitcoin Trust ETF (IBIT) recorded net inflows of $115 million followed by Fidelity Wise origin Bitcoin Fund (FBTC) that recorded net inflows of $15 million.
Bitcoin is continuing in the 13th position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com.
Ethereum (ETH) has also rallied 2.1 percent overnight as it traded at $2,070.62. The leading alternate coin is trading 58 percent below the all-time-high of $4,953.73 recorded on August 25, 2025. The 24-hour trading ranged between $2,085.29 and $2,013.20.
Ethereum Spot ETF products in the U.S. witnessed net inflows rising to $57 million on Wednesday from $13 million on Tuesday. Fidelity Ethereum Fund (FETH), Grayscale Ethereum Mini Trust ETF (ETH) and iShares Ethereum Trust ETF (ETHA), all recorded inflows of close to $19 million each.
Meanwhile, Ethereum has jumped two notches to the 71st position in the global ranking of all assets as per market capitalization published by companiesmarketcap.com. 4th ranked BNB (BNB) gained 1.3 percent overnight resulting in price increasing to $652.09. BNB is now trading 52 percent below the all-time high of $1,370.55 touched on October 13, 2025.
5th ranked XRP (XRP) added 0.82 percent overnight to trade at $1.38, around 64 percent below the all-time high of $3.84 touched on January 4, 2018.
The price of 7th ranked Solana (SOL) increased 1.6 percent overnight to $86.71. SOL's current price is around 71 percent below its all-time-high of $294.33 recorded on January 19, 2025.
TRON (TRX) ranked 8th overall rallied 0.43 percent overnight and is currently changing hands at $0.2895. The trading price is 34 percent below the cryptocurrency's all-time high of $0.4407 recorded on December 4, 2024.
9th ranked Dogecoin (DOGE) added 2.3 percent overnight and is currently trading at $0.0943. DOGE is trading 87 percent below the peak price of $0.7376 recorded on May 8, 2021.
Hyperliquid (HYPE) jumped to the 10th rank with an overnight gain of 9.1 percent, relegating Cardano (ADA) to the 11th rank overall. HYPE is currently trading at $37.75, around 36 percent below the all-time high of $59.39 recorded on September 18,2025.
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